sycamore wrote: ↑Sun Dec 19, 2021 8:13 am
capran wrote: ↑Sat Dec 18, 2021 8:17 pm
After significant searching for info, I believe we received a direct bank ACH for the 3rd EIP in March for a little over 200, because our 2019 income was 159k+ for 2019. Interestingly enough, I just went through that laborious process to view our IRS account. It showed we did make a tax payment with our 2020 return, and that payment was cashed and in the IRS site, but it also says "your 2020 return has not been processed". Wow. Just, wow.
Just hoping I understand correctly that if I keep my income for 2021 below 150k, we should be able to claim the balance f the 2800 for MFJ minus the ACH for EIP3 we received in March. Of course, it may be 2024 before they even get to that, if not beyond. Strange world we are living in.
Just to clarify, the limit for the full payment is for
Adjusted Gross Income up to $150,000 with a phaseout occurring up to $160,000.
https://www.irs.gov/coronavirus/third-e ... ct-payment
Eligibility
Most eligible people didn't need to take additional action to get a third payment.
Generally, someone was eligible for the full amount of the third Economic Impact Payment if they:
- are a U.S. citizen or U.S. resident alien (and their spouse if filing a joint return), and
- are not a dependent of another taxpayer, and
- had adjusted gross income (AGI) that is not more than:
- $150,000 if married and filing a joint return or if filing as a qualifying widow or widower
- $112,500 if filing as head of household or
- $75,000 for any other filing status
Payments were phased out – or reduced – above those AGI amounts. This means people will not receive a payment if their AGI is at least:
- $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
- $120,000 if filing as head of household
- $80,000 for any other filing status
Electronic filing for TY 2021 seems to be your best bet to get the proper payment as soon as possible. Hope you'll get it quickly.
Yes, I think the $200 stimulus amount I received in March was based on our 2019 AGI income of $159k, and as the IRS site suggests (in theory) that if our income for 2021 is below the 150k, we should be able to get the balance of EIP3 via the credit on line 30 when filing our 2021 taxes. I also agree I would be better served by filing electronically. But I am worried about doing something wrong. I know I have OID to deal with, which I do correctly on paper using the statement process to clarify: for example
IN-STATE PRIVATE TOTAL
MUNICIPAL ACTIVITY MUNICIPAL
PAYER BONDS BONDS BONDS
TAX EXEMPT OID VANGUARD 1099 OID line 11 minus line 6 $8.78
VANGUARD 1099 INT line 8 $1,493.76
VANGUARD 1099 INT BOND PREMIUM line 13 $(186.23)
VANGUARD 1099 DIV tax exempt dividends line 11 180.14 $2,178.48
TOTAL 180.14 $3,494.79
But I know the free fillable IRS electronic process does not allow anything outside of the normal forms and schedules. And I think a "see statement #1" would not be includable. Several years ago a friend with turbo tax tried to walk me through the software and i got lost, and not sure this year would reveal any increase in technology abilities on my part. I'm between a rock and a hard place, it seems. Poor tech skills to do most things electronically and needing electronics to get my return processed in a timely fashion due to built in IRS processing inefficiencies.